On 3 March 2020, in what was a much simpler time, the Regulator launched the first stage of its two-part consultation on a revised Code of Practice on funding defined benefit (DB) schemes. This sets out eight key principles that will underpin the new Code and confirms the Regulator’s plan to introduce a new twin-track … Read more

The Pensions Regulator has issued further guidance relating to COVID-19. This includes specific guidance for trustees of defined benefit schemes whose sponsor is in or may experience financial distress, as well as more general guidance relating to business continuity and scheme administration aimed at all schemes. Sponsors and trustees clearly need to be taking immediate … Read more

The Pensions Regulator has today launched the first stage of its consultation on its new DB funding Code. This consultation focuses on the principles that will underpin the new Code and, as expected, it sets out the Regulator’s expectation that, in general: DB schemes should have low dependency on their scheme’s sponsor and reach their … Read more

Yesterday, the European Commission issued a press release setting out a recommendation to the European Council to begin negotiations on the future relationship with the UK. The recommendation includes the draft text of the negotiating directives; these set out the parameters of the future relationship that the EU wishes to have with the UK (e.g. … Read more

The UK exited the EU at 11pm on 31 January 2020. Although the UK’s exit from the EU last Friday does not have an immediate impact on pension law and regulation in the UK, as more details emerge of the likely nature of the UK’s future relationship with the EU, pension scheme sponsors and trustees … Read more

The post below was first published on our Brexit blog The European Commission has started a debate with Member States on the shape of the Union’s future trade relationship with the UK and has made its views public in a series of slides. The UK Government has so far not set out its position in … Read more

The Pension Schemes Bill was reintroduced in the House of Lords by the Government yesterday. As expected, the new Bill contains the same measures set out in the previous version of the Bill that was introduced last October, prior to the general election. This includes measures that will introduce: new criminal offences and civil sanctions … Read more

The CJEU judgment in PSV v Bauer (Case C-168/18) was finally handed down today, with many in the industry having held their breath in anticipation since Advocate General Hogan published his Opinion, in May this year. In that Opinion he concluded that Article 8 of the Insolvency Directive requires Member States to protect an employee’s … Read more